Champlain Investment Partners LLC Sells 20,929 Shares of Kinsale Capital Group, Inc. $KNSL

Champlain Investment Partners LLC cut its holdings in Kinsale Capital Group, Inc. (NYSE:KNSL) by 6.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 289,696 shares of the financial services provider’s stock after selling 20,929 shares during the period. Champlain Investment Partners LLC’s holdings in Kinsale Capital Group were worth $123,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bamco Inc. NY grew its stake in Kinsale Capital Group by 1.4% during the second quarter. Bamco Inc. NY now owns 1,763,794 shares of the financial services provider’s stock worth $853,500,000 after purchasing an additional 24,936 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Kinsale Capital Group by 2.1% during the 2nd quarter. Geode Capital Management LLC now owns 593,914 shares of the financial services provider’s stock worth $288,657,000 after buying an additional 12,040 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Kinsale Capital Group by 6.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 450,044 shares of the financial services provider’s stock worth $191,386,000 after buying an additional 25,428 shares during the period. Riverbridge Partners LLC increased its stake in shares of Kinsale Capital Group by 11.1% in the 3rd quarter. Riverbridge Partners LLC now owns 290,524 shares of the financial services provider’s stock valued at $123,548,000 after acquiring an additional 29,053 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Kinsale Capital Group in the 2nd quarter valued at $125,812,000. 85.36% of the stock is owned by institutional investors and hedge funds.

Kinsale Capital Group Stock Performance

Shares of KNSL opened at $396.12 on Tuesday. The stock has a 50 day moving average of $393.46 and a 200 day moving average of $410.87. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.59 and a beta of 1.01. Kinsale Capital Group, Inc. has a 12 month low of $341.06 and a 12 month high of $512.76. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.11.

Kinsale Capital Group (NYSE:KNSL) last announced its quarterly earnings data on Thursday, February 12th. The financial services provider reported $5.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.30 by $0.51. The firm had revenue of $483.27 million during the quarter, compared to the consensus estimate of $467.66 million. Kinsale Capital Group had a return on equity of 25.45% and a net margin of 26.87%.During the same quarter in the prior year, the company earned $4.62 EPS. As a group, sell-side analysts forecast that Kinsale Capital Group, Inc. will post 17.72 earnings per share for the current year.

Kinsale Capital Group announced that its board has approved a share repurchase program on Thursday, December 11th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Kinsale Capital Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, February 26th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.3%. This is an increase from Kinsale Capital Group’s previous quarterly dividend of $0.17. Kinsale Capital Group’s payout ratio is currently 4.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Truist Financial reduced their price target on shares of Kinsale Capital Group from $510.00 to $450.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. JPMorgan Chase & Co. reduced their target price on Kinsale Capital Group from $450.00 to $410.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Wall Street Zen lowered Kinsale Capital Group from a “hold” rating to a “sell” rating in a research report on Saturday. Morgan Stanley reiterated an “overweight” rating on shares of Kinsale Capital Group in a report on Tuesday, December 16th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Kinsale Capital Group in a report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $441.91.

Kinsale Capital Group Profile

Kinsale Capital Group, Inc (NYSE:KNSL) is a specialty property and casualty insurance company headquartered in Richmond, Virginia. Established in 2009, the company focuses on underwriting complex and underserved risks across the United States. Kinsale operates through a network of wholesale brokers and independent agencies, offering tailored coverage solutions for a range of niche industries.

The company’s product portfolio includes general liability, business auto, professional liability, environmental liability, inland marine, cyber liability, and other specialty lines.